Italy’s AM industry posts €16.3bn net inflows in Q3 – Assogestioni

Italian asset managers have posted total net inflows of €16.3bn in Q3, most of which came from insurance products, Assogestioni reports.

According to industry group Assogestioni’s report, the Italian AM industry has posted positive net inflows of €57bn since the beginning of the year and has compensated 2011 and 2012 outflows in only nine months.

The total AUM of the industry was of €1,292bn at the end of September.

Insurance products, which contributed the most to the positive result, posted €7.8bn net inflows, followed closely by open-ended funds, which posted €7bn net inflows.

Portfolio management made up 55% (€717bn) of total AUM, while collective management accounted for 45%, with a €576bn worth.

Foreign domiciled funds posted again more than domestic domiciled funds, respectively €4.6bn and €2.4bn. A very good result came from flexible products, which posted net inflows of €5.9bn; while stock ad balanced funds posted respectively +€2.1bn and +€1.4bn.

Bond and monetary funds were instead both negative, registering outflows of €735m and €1.5bn.

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